(Ecofin Agency) – Morocco remains particularly vulnerable to the effects of climate change. Through this financial support, Germany intends to support the country’s climate policies.
Morocco will benefit from funding of 100 million euros (around $103.6 million) from Germany to support its Climate Policy Support Program. The announcement was made by the Moroccan Ministry of Finance on Wednesday, December 18, 2024.
This agreement was signed by Fouzi Lekjaa, Moroccan Minister Delegate for the Budget, and Jan Schilling, regional head of the water sector at the German Development Bank (KfW). It aims to strengthen Morocco’s measures to improve its resilience to climate change and accelerate its transition to a low-carbon economy.
During the ceremony, Mr. Lekjaa emphasized the importance of integrating climate resilience into economic and fiscal strategies, while emphasizing the country’s priority for a green economy and increased climate actions.
The Shereef kingdom remains particularly vulnerable to the effects of climate change, including droughts and other environmental risks. More recently, the Al Haouz earthquake destroyed critical infrastructure such as roads, schools and hospitals.
Furthermore, he faces a “ structural water stress ”, according to the World Bank. The agricultural sector, dependent on water resources, is particularly affected, with repeated droughts which considerably reduce yields.
To respond to these challenges, Morocco adopted the National Water Plan (PNE) for an investment of $41.3 billion over the period 2020-2050. It aims to bridge the gap between water supply and demand, by increasing water mobilization and improving the efficiency of its management in the drinking water and agriculture sectors, notes the World Bank. Note that the country benefits from the support of several international partners, including the Bretton Woods institutions, for its environmental and economic initiatives.
In July 2024, Germany and Morocco strengthened their cooperation by forming a alliance climate and energy in order to promote the development of renewable energies and the production of green hydrogen in the kingdom. Cooperation between the two countries has enabled the construction of one of the largest solar thermal power plants in the world, located in Ouarzazate, in southern Morocco.
Charlene N’dimon
Related News :